Fujitsu Plans $1.2B Cloud Investment

Japan's top IT vendor says it will invest heavily in cloud computing services in the year to come, looking to gain after the slowdown in corporate and public spending on new IT services.

Dec 24 (Reuters) - Fujitsu Ltd (6702.T), Japan's leading IT vendor, will invest more than $1.2 billion in cloud computing services next financial year, its president said Friday.

Fujitsu is looking for new products and services as it tries to counter a crimp on corporate and public spending on new IT services amid weak economic growth that is pressuring earnings. (Reporting by Reiji Murai; Writing by Tim Kelly; Editing by Edwina Gibbs)